The Stellar Lumen In A Bearish Trend, Market Shades Red

Cryptocurrency markets were opened with a bearish margin but later turned reverse end of the day. Virtually all cryptocurrencies, including popular ones such as XRP, Stellar Lumens [XLM], Bitcoin Cash [BCH], felt the bear’s grip. The market showed a change of behavior compared to earlier trends when most of the cryptocurrencies dominated the bull.

Stellar Lumens [XLM] also witnessed a major shift a few days ago, when the crypto entered EOS and became the fifth-largest cryptocurrency on the market. Although the difference is only $100 million, 26% in the last 24 Hours gave something to XLM’s investors.

While reporting, XLM fell 0.81% and was trading at $0.245. Stellar Lumens had a market capitalization of $ 4.63 Billion and a market volume of $ 24.22 million for 24 Hours. Most Stellar Lumens trading came from Binance, with a total trading volume of $8,813 Million. Binance was followed closely by BitMart, which accounts for $5.775 Million of the full XLM trading. Stellar had newly taken a new step; the cryptocurrency has 1 Million accounts in its ledger.

Stellar’s recent performance includes the acquisition of Chain, a blockchain technology startup in San Francisco dedicated for the financial industry. Data showed that trade numbers dropped significantly by 95.5% in more than two months.

Recently, China’s largest exchange platform, Huobi, began selling XLM on its platform. In addition, the technology giant IBM confirmed that Stellar’s digital assets would be used by some of the largest banks in the currency corridors.

Earlier it was reported that BitGo, the California-based blockchain security company declared it support for two major players Stellar Lumens and Dash in the global cryptocurrency market. The founder and CEO of the company stated that both the entities emphasize on the global payments dedicated for consumers, which stands totally apart from what Bitcoin does.